SEC Form 4 · accession 0001437749-18-006541
CYANOTECH CORP · CYAN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gerard J Watts
Officer — COO
Period of report
Apr 5, 2018
Accepted (ET)
Apr 9, 2018 · 2:58 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000768408
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Cyanotech common stock | Apr 5, 2018 | M | 57 | $0.00 | A | 57 | D | |
| Cyanotech common stock | Apr 5, 2018 | F | 22 | $5.25 | D | 35 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted stock unitsF3,F4 | — | Apr 5, 2018 | M | 57 | D | — | — | Cyanotech common stock | 57 | 113 | D |
| Cyanotech common stock optionsF2 | $4.72 | holding | — | — | — | — | Aug 18, 2024 | Cyanotech common stock | 45,000 | 45,000 | D |
Explanation of responses
- F1The reporting person is reporting the withholding by the Issuer of 22 shares of common stock that vested on April 5, 2018 pursuant to the April 5, 2017 RSU grant, but that were not issued in order to satisfy the reporting person's tax withholding obligations in connection with the delivery of the converted common stock to the reporting person as of April 6, 2018.
- F2Mr Watts acquired 45,000 stock options on 8/18/2014, of which 15,000 options became exercisable on 8/18/2015, 15,000 options became exercisable on 8/18/2016, and 15,000 options became exercisable on 8/18/2016.
- F3Each restricted stock unit represents the contingent right to receive one (1) share of Cyanotech common stock.
- F4The restricted stock units shall vest as to 57 shares on 4/5/2019 and 56 shares on 4/5/2020, in each case subject to continued service with Cyanotech on the vesting date.